Ksh 5,000,000 loan at Guaranty Trust Bank for 5 years.
At Guaranty Trust Bank's current lending rate of 15.61%, a Ksh 5,000,000 fixed-rate loan over 5 years has a monthly repayment of Ksh 120,557. Total cost: Ksh 7,233,397 (Ksh 2,233,397 interest).
Monthly repayment
Ksh 120,557
At 15.61% · 60 payments
Total repayment
Ksh 7,233,397
1.45× the borrowed amount
Total interest
Ksh 2,233,397
Ksh 26,943 more than industry avg
Year-by-year amortisation
How each payment splits between interest and principal over time.
| End of year | Principal paid | Interest paid | Balance |
|---|---|---|---|
| Year 1 | Ksh 715,970 | Ksh 730,709 | Ksh 4,284,030 |
| Year 2 | Ksh 1,552,057 | Ksh 1,341,302 | Ksh 3,447,943 |
| Year 3 | Ksh 2,528,411 | Ksh 1,811,627 | Ksh 2,471,589 |
| Year 4 | Ksh 3,668,565 | Ksh 2,118,152 | Ksh 1,331,435 |
| Year 5 | Ksh 5,000,000 | Ksh 2,233,397 | Ksh 0 |
Could you get this cheaper?
Currently the cheapest Kenyan lender on this CBK dataset is Citibank N.A. Kenya at 10.36%. The same Ksh 5,000,000 loan over 5 years would run about Ksh 107,123/month — saving Ksh 806,013 in interest. See the Citibank N.A. Kenya version →